Issue of Share Awards

RNS Number : 6496P

Sirius Real Estate Limited

03 October 2013

 



Sirius Real Estate Limited

('Sirius' or 'the Company')

Issue of share awards

Sirius announces that the Company's senior management team have been granted ordinary shares in the Company, under the Company's incentive plans, relating to their performance for the year to 31 March 2013.

2,703,093 shares were issued out of treasury on 2 October 2013 to the senior management team, of which 1,467,189 shares are subject to clawback should performance targets for the March 2014 financial year not be met.  In addition, a further 466,947 shares will be issued to the management team if certain performance targets are met for the March 2014 financial year, therefore increasing the total potential issue to 3,284,325 shares. A material portion of the share issuance is in sacrifice of cash performance bonuses at the election of the senior management team.

The Company operates a number of incentive plans which are designed to align the interests of the senior management team with the shareholders. The remuneration plans include an annual performance bonus award with a performance related deferral mechanism, a matching scheme and a long term incentive plan. The incentive plans are designed to encourage share ownership across the senior management team.  Andrew Coombs, Chief Executive Officer of Sirius Facilities GmbH, Alistair Marks, Chief Financial Officer of Sirius Facilities GmbH, and eight other senior management team members shall be receiving shares as part of the current award.

Following the issue, Andrew Coombs has an interest in 2,004,612 ordinary shares representing 0.57% of the total voting rights. Alistair Marks has an interest in 1,139,358 ordinary shares representing 0.32% of the total voting rights.  As set out above, some of these shares are subject to clawback. 

Following these awards of shares, the total number of voting rights in the Company will be 351, 233,640, the number of shares in treasury shall be 7,518,731 and the total number of shares in issue will be 358,752,371.

Enquiries:

Sirius                          

Andrew Coombs, CEO                                                                          [phone]

Alistair Marks, CFO

Peel Hunt

Capel Irwin                                                                                            [phone]

Hugh Preston

Novella Communications                                    

Tim Robertson                                                                                       [phone]

Ben Heath        

 

END

 

 

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